South Indian Bank Personal Loan Interest Rates

South Indian Bank Personal Loan can prove to be of greater value for both financially weak as well as financially strong individuals. It doesn’t require much of documentation and the interest on personal loan starts from 10.20% which is also the base rate. There are two types of personal loans offered by South Indian Bank;

Doctor’s Loan: The rate of interest attached with this type of loan is 3.30% + 10.20% (base rate). 1% of the loan amount is the one-time upfront fee.

SIB Personal Loan: The rate of interest attached with this type of loan is 4.30% + 10.20% (base rate). 0.50% of the loan amount is the one-time upfront fee.

Key factors:

As per the RBI rates, the interest rates applied on personal SIB personal loans will change, but with no immediate effect.

Your credit history, loan repayment capacity and your income will be reviewed by the bank and depending on your CIBIL score; the interest on your personal loan will be applied.

There are two types of interest rates attached to the personal loan, fixed and floating. The floating rates are liable to change as per the change in bank’s base rate, whereas; the fixed rate will remain constant throughout your tenure.